London fintech star Monzo is fending off one takeover offer each month

Having previously worked at Property Week and Management Today, my areas of expertise are housing, entrepreneurs and leadership, as well as cars and the automotive industry. In 2015 I won the British Media Awards' Rising Star of the Year award.

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Emma Haslett

Monzo, one of London's biggest fintech success stories, is fending off a takeover offer every month as larger rivals try to get their hands on a slice of its ultra-hip clientele, its co-founder has said.

Speaking on City A.M.’s Unregulated podcast, Tom Blomfield, who launched the company in April this year, said the firm has been approached by “big banks and big tech companies”, but has yet to accept an offer.

“It’s sort of flattering and you do the maths and think wow, that’s loads of money,” he said.

“But those kinds of acquisitions never really go well… They always say, ‘we’ll help you... realise your potential much much faster’.

“And it’s like, well yes. Or you’ll stick us in a basement and we’ll rot away and die because frankly you don’t really want to disrupt your own business models that much. Certainly not as much as we do. So let’s see you in 10 year’s time.”